Vertiv Holdings Co (NYSE:VRT) Stock Position Raised by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its holdings in shares of Vertiv Holdings Co (NYSE:VRT) by 3.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,895 shares of the company’s stock after buying an additional 969 shares during the period. Maryland State Retirement & Pension System’s holdings in Vertiv were worth $2,415,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. grew its position in shares of Vertiv by 296.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,205 shares of the company’s stock valued at $634,000 after buying an additional 9,870 shares during the last quarter. California State Teachers Retirement System grew its position in shares of Vertiv by 58.8% during the 4th quarter. California State Teachers Retirement System now owns 547,833 shares of the company’s stock valued at $26,312,000 after buying an additional 202,766 shares during the last quarter. Williamson Legacy Group LLC bought a new stake in shares of Vertiv during the 4th quarter valued at about $1,645,000. Quadrant Capital Group LLC boosted its stake in Vertiv by 24.7% during the 4th quarter. Quadrant Capital Group LLC now owns 857 shares of the company’s stock valued at $41,000 after purchasing an additional 170 shares during the period. Finally, Swiss National Bank boosted its stake in Vertiv by 1.3% during the 1st quarter. Swiss National Bank now owns 1,085,200 shares of the company’s stock valued at $88,628,000 after purchasing an additional 14,100 shares during the period. Institutional investors own 89.92% of the company’s stock.

Vertiv Price Performance

Shares of NYSE:VRT traded up $3.11 during trading on Friday, reaching $83.03. The company had a trading volume of 7,100,964 shares, compared to its average volume of 8,648,493. The firm’s fifty day moving average is $81.94 and its 200 day moving average is $83.43. The firm has a market capitalization of $31.08 billion, a PE ratio of 79.82, a price-to-earnings-growth ratio of 0.97 and a beta of 1.58. Vertiv Holdings Co has a twelve month low of $34.60 and a twelve month high of $109.27. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.98 and a current ratio of 1.36.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm earned $0.46 EPS. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities analysts forecast that Vertiv Holdings Co will post 2.58 EPS for the current year.

Vertiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Monday, June 17th were issued a $0.025 dividend. The ex-dividend date was Monday, June 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.12%. Vertiv’s payout ratio is currently 9.62%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on VRT. The Goldman Sachs Group reduced their target price on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Evercore ISI reissued an “outperform” rating and set a $105.00 target price on shares of Vertiv in a research note on Thursday, August 15th. TD Cowen boosted their target price on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Mizuho raised shares of Vertiv from a “neutral” rating to an “outperform” rating and reduced their target price for the company from $95.00 to $92.00 in a research note on Wednesday, August 7th. Finally, Bank of America boosted their target price on shares of Vertiv from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $96.22.

Vertiv Profile

Vertiv Holdings Co, together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.